Lucid Group, Inc. (NASDAQ:LCID) Holdings Lifted by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co boosted its holdings in Lucid Group, Inc. (NASDAQ:LCID) by 34.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,710 shares of the company’s stock after acquiring an additional 3,549 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Lucid Group were worth $36,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Accredited Investors Inc. bought a new stake in shares of Lucid Group in the 2nd quarter worth approximately $27,000. GAMMA Investing LLC bought a new position in shares of Lucid Group in the fourth quarter valued at $28,000. Meeder Advisory Services Inc. acquired a new stake in shares of Lucid Group during the 1st quarter valued at $29,000. Norden Group LLC bought a new stake in shares of Lucid Group during the 1st quarter worth $32,000. Finally, Heritage Wealth Advisors grew its holdings in shares of Lucid Group by 53.3% in the 1st quarter. Heritage Wealth Advisors now owns 11,500 shares of the company’s stock worth $33,000 after acquiring an additional 4,000 shares during the last quarter. 75.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LCID has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Friday, August 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $4.00 price objective on shares of Lucid Group in a research note on Monday, August 19th. Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a research report on Tuesday, August 6th. Stifel Nicolaus reduced their target price on Lucid Group from $4.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $3.00 price target on shares of Lucid Group in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, Lucid Group has a consensus rating of “Hold” and an average target price of $3.71.

Lucid Group Price Performance

Shares of NASDAQ:LCID opened at $4.02 on Friday. The business has a fifty day simple moving average of $3.32 and a 200 day simple moving average of $3.00. The company has a current ratio of 4.66, a quick ratio of 4.12 and a debt-to-equity ratio of 0.49. Lucid Group, Inc. has a 1 year low of $2.29 and a 1 year high of $6.45. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of -3.17 and a beta of 1.04.

Lucid Group (NASDAQ:LCID) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Lucid Group had a negative return on equity of 53.53% and a negative net margin of 441.29%. The firm had revenue of $200.58 million for the quarter, compared to analysts’ expectations of $190.30 million. During the same period last year, the business earned ($0.40) earnings per share. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. As a group, sell-side analysts predict that Lucid Group, Inc. will post -1.17 earnings per share for the current fiscal year.

Insider Activity at Lucid Group

In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the transaction, the senior vice president now directly owns 2,028,268 shares of the company’s stock, valued at $6,368,761.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 61.26% of the stock is owned by company insiders.

Lucid Group Company Profile

Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.